In this review article, the structure, properties, stability and biological application of redox-active quinones are presented. A series of quinoid molecules is evaluated in terms of their ability to act as electron-transfer active compounds using cyclovoltammetric, electron paramagnetic resonance (EPR) and spin-trapping techniques. Redox potentials and electron distribution of the intermediate radical anions are shown to be decisive factors for the generation of reactive oxygen species (ROS). Mechanisms of ROS generation in dark by biological electron-transfer reaction or under photoexcitation have been proposed and experimentally verified. For site-specific damage of tumors, some quinone derivatives were covalently bound with the luteinizing hormone-releasing hormone (LH-RH or GnRH) that produces specific complexes with receptors on the surface of cancer cells. The properties of obtained conjugates to be bound with the different lines of cancer cells (αT3-1, M2R, LNCaP) were tested. EPR was used for the estimation of efficacy of ROS production by the conjugates in solution and in the complex with cancer cells. The toxicity of these conjugates as well as their stability in the stimulated oxidative stress were tested. The proposed approach could be useful in creating a new family of addressed anti-cancer drugs, including compounds for the treatment of tumors by photodynamic therapy.